Li Keqiang'S Policy Requirements For Accelerating Fiscal Expenditure

The article entitled "Li Keqiang: never allow financial capital to lie on the table and sleep loudly" reiterated Premier Li Keqiang's policy request to speed up fiscal expenditure to revitalize stock funds. The full text reads as follows:

At the executive meeting of the State Council in July 3, 2013, after the deployment of the audit work, Premier Li Keqiang made it clear that "we should further revitalize the stock and make good use of idle and precipitated financial funds".

This is the first time that the expression of "revitalize the stock" has entered the public view at the executive level.

Over the next two years, the related topics have entered the agenda of the executive meeting of the State Council several times, and revitalize the stock of treasury funds has also become one of the "real strokes" of the current government's implementation of the proactive fiscal policy.

"This is a good move for both the potential and the living."

A financial media commented.

The realistic predicament is: first, the financial allocation of some localities and departments has been sleeping on the accounts for a long time, while others have a lot of livelihood projects badly in need of funds. Two, under the downward pressure of the economy, the demand for active fiscal policy has been increasing, while the weakening of economic growth momentum has led to a slowdown in revenue growth at all levels.

To resolve the dual contradiction between "using" and "retaining", "supporting" and "collecting", it is no doubt that revitalize the financial stock fund is an important measure to make the reality difficult.

"Some local money has been allocated, and we will not start any longer. We will collect the financial allocations that have been lying on the books for many years in accordance with the law, and pfer them to the key livelihood projects that have been identified by the central government, and pfer them to those who want to work and work." Li Keqiang made such a clear statement at the executive meeting of the State Council in June 10th this year.

One of the themes of the meeting was to clearly promote the coordinated use of fiscal funds and better play the role of active fiscal policy in stabilizing growth, adjusting the structure and benefiting the people.

This is the third time in two months that the Executive Council of the State Council has studied and deployed to revitalize financial stock funds.

In April 1st, the Executive Committee deployed to revitalize and co-ordinate the use of the deposited stock of financial funds to effectively support economic growth. In May 13th, the Executive Council decided to further promote credit asset securitization to revitalize the stock fund with reform and innovation.

In order to implement the deployment of the State Council, relevant ministries and commissions quickly launched a series of policy "combined boxing".

For example, the Ministry of Finance issued a document calling for further innovation in the management of financial funds, revitalizing the stock of financial stocks and accelerating the issuance and arrangement of local government bonds. It also sets up a task list and timetable for the co-ordination of the use of the deposited stock of funds, which is used to increase the supply of public services and the major areas and projects that badly need financial support.

Since then, the notice on the recovery of fiscal stock fund budgetary accounting treatment has further requested the detailed accounting of the recovery of surplus funds and the rearrangement of use.

Obviously, let the positive fiscal policy work harder, Premier Li Keqiang chose to revitalize the stock of financial stocks as an important starting point, and this is also an important starting point for pforming the traditional engine and improving people's livelihood.

At the executive meeting of the State Council in June 10th this year, Premier Li Keqiang once again reiterated that the "hard measures" to promote the co-ordination of the use of financial funds were approved at the meeting. The departments of the State Council should take the lead and set a good example.

In June 16th, the State Council issued the plan to promote the co-ordination of fiscal funds, and put forward 10 major measures, including promoting the coordinated use of project funds and promoting the co-ordination of key subjects and funds.

The "hard measures" have proved effective: in July 8th, the Executive Council of the State Council revealed that all levels of finance would recover about 250000000000 yuan of sedimentation and illegal funds, and speed up the co-ordination for the urgent need. The State Council adjusted the investment stock fund of 23 billion 900 million yuan in the central budget for major projects under construction.

This year's "government work report" put forward that we should increase effective investment in public products, and initiate the implementation of a number of new major projects, including shantytowns and dilapidated housing reconstruction, and urban underground pipeline network construction.

At the executive meeting of the State Council in June 10th, Li Keqiang stressed that the demand for people's livelihood should not be "hungry for food" on the one hand, but on the other hand, there was a large amount of book money "sleeping".

He said, "speed up the progress."

Co ordinate the use and improve the efficiency of use is the key measure of "active financial policy".

At the end of 2014, the notice of the general office of the State Council on making further efforts to revitalize the financial stock fund, for the first time, raised the financial stock fund work from the financial level to the government level for the first time.

At the beginning of 2015, the Ministry of Finance issued the relevant implementation documents to revitalize the treasury stock funds at the central and local levels.

"The more important it is.

The more difficult it is, it is difficult to revitalize the financial stock fund, which is difficult to make new arrangements in the complicated technology, the other side's customary practices and even the system design; two, it is difficult to

Entanglement, and touching interest is often "harder than touching the soul", which is the biggest difficulty of reform.

An official at a specific operational level said: "reformers only have to" bite the green hills and not relax ", so that they can go all the way to win the battle.

Li Keqiang pointed out in particular that we should combine the overall use of funds and deepen fiscal and taxation reforms, clarify the responsibilities and responsibilities of relevant policies, and promote the overall plan. "At all levels of finance, we must strictly control the budgetary budget of the generation, and we really need to issue the relevant items before June 30th of that year".

This means that revitalized financial stock fund as an important means of active fiscal policy will become a formal budget system arrangement, and its importance will be further enhanced.